Shares and funding

Brendon Energy launched our first share offer on 9th July 2011. We received a total of 50 applications amounting to £23,981. In addition, we were offered a long term loan of £50,000 on favourable terms from a local supporter.

Together this funding meant we were able to proceed with our first solar installation on the roof of the Children’s Centre in Wiveliscombe.

Shares in Brendon Energy from our first share offer give:
• Membership of Brendon Energy and part-ownership of our renewable energy projects.
• A say in how Brendon Energy is run and in how our surplus is spent in the community, with each member having one vote at meetings, irrespective of the number of shares they hold.
• A social dividend rather than personal financial reward.
• Interest on the investment, which it is planned will be 4% per annum from 2012/13, paid in the autumn of each year.
• Tax relief to tax payers investing over £500 as described below.

A long term investment

Shares in Brendon Energy need to be regarded as a long-term commitment, as provision to allow shares to be withdrawn and repaid can only be made from income over the lifetime of our projects.

A social dividend

Under Brendon Energy rules as an Industrial and Provident Society for community benefit, any surplus from our projects can only be used to promote our objects, which will include funding new renewable energy projects as well as other schemes that benefit the local community.

Tax relief benefits

The Enterprise Investment Scheme (EIS) allows qualifying investors of over £500 to reduce their income tax liability by 30% of the amount invested, which alone gives an equivalent return of 9% for the first three years’ trading. See Enterprise Investment Scheme.pdf for an outline of EIS tax benefits and see downloads and links below for further information.

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A community co-operative (registered as an Industrial and Provident Society for community benefit) set-up in 2011 to establish local renewable energy schemes. Our projects generate clean power, provide a return to investors and all profits are invested in new projects and donated to benefit the local community.